Quote:
‘One of the downsides of excessive charm can be the excessive cruelty that sometimes lies on the other side of the coin.’ Virginia Ironside (1944-)
The News:
Indian militants target British and US citizens in Mumbai, killing and setting fire to prominent targets.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP Bank of Japan Minutes of meetings 14th and 31st October.
07:00 DE October ILO Unemployment 7.1% versus 7.1% September.
07:00 GB November Nationwide House Prices –0.4% M/M, -13.9% Y/Y, versus –1.4% and –14.6% October.
08:55 DE November Unemployment (-18K to +20K, 7.5% to 7.8%, versus –26K and 7.5% October).
09:00 EZ15 October M3 Money Supply (+7.6% to +8.8% Y/Y, versus +8.6% September).
10:00 EZ15 November Business Climate (-2.4% to –1.2%, Consumer Confidence –27 to –19, Economic 77 to 80, Industry –27 to –15, and Services –10 to –5, versus –1.34, -24, 80.4, -18 and –6 October).
15:30 EG ECB’s Trichet speaks at Mediterranean central bankers meeting, Alexandria.
16:00 CH Swiss National Bank president Roth speaks, Berne.
23:30 JP October Jobless (4.1% to 4.3%, Job-to-Applicant Ratio 0.80 to 0.84, versus 4.0% and 0.84 September).
23:30 JP October Household Spending (Mizuho Securities –3.7% versus –2.3% September).
23:30 JP October National CPI (+1.5% to +2.0% Y/Y, Ex-Fresh Food +1.6% to +2.1%, vs +2.1% and +2.3% Sep).
23:30 JP November Tokyo CPI (+0.8% to +1.4% Y/Y, Ex-Fresh Food +1.1% to +1.4%, vs +1.2% and +1.5% Oct).
23:50 JP October Industrial Production (-4.0% to –0.5% M/M, -8.0% to –4.8% Y/Y, vs +1.1% and +0.2% September).
23:50 JP October Retail Trade (-1.7% to 0% Y/Y, Large Retailers –5.0% to –2.2%, vs –0.3% and –3.3% September).
The Psychology:
Thanksgiving holiday in US (markets close early), Oman and UAE today.
The Risk:
Thin markets looking for direction.
Today’s most interesting chart: US TNote future
Trading at its highest ever price, CDS’s too.
